Election 2020

Top Democrat Donors Want Biden to Drop Out: ’He Has No Chance’

Then Vice President Joe Biden speaks at a campaign event for Hillary Clinton on Sept. 1, 2016, in Cleveland. (AP Photo/David Dermer)

Joe Biden has managed to go from runaway frontrunner for the Democratic nomination to persona non grata in a matter of weeks, and now top Democrat donors are calling on him to end his campaign and let Mike Bloomberg try to fix the chaos that has been made of the Democratic primaries.

Biden was in New York City Thursday night with deep-pocketed liberal donors hoping to raise some quick cash to save his campaign, but it might be too late as Bloomberg seems ready to swoop in and siphon away Biden’s support from the so-called moderate wing of the party.

“I feel sorry for Biden,” said Leon Cooperman, a billionaire hedge fund investor and Democrat fundraiser. “He should withdraw; he has no chance.”

Cooperman has come out in support of Bloomberg, and says that Bernie Sanders is unelectable.

“Sanders is a communist and we are not ready for a communist or socialist as president,” Cooperman said.

Bloomberg’s most likely path to winning the nomination is through a brokered convention.

For those reasons, Trump maintains historically low approval ratings, meaning a Democrat who can attract enough moderates can win the general election despite a strong economy.

“I believe Trump should not seek a second term unless he will change the way he treats people and talks to people,” Cooperman said. “Trump has every reason to take a victory lap — unemployment for everyone and minorities are at a record low, there is constructive dialogue with China, and the stock market is booming.”

“Bloomberg will assume the mantle of running the economy and not being Trump,” Cooperman added.

According to Cooperman, “The Democratic Party does not want Sanders or Warren to lead their ticket.” He added, “In the general election, the winner will depend on if people vote their pocketbooks or values.”